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Sep 19 - 09:48 PM
EUR/USD - Range Trading Continues But Trend Is Lower
First appeared on eFXplus on Sep 19 - 08:15 PM
  • EUR/USD is trending lower, but selling into weakness is proving to be costly

  • Since trend started June 26 - tendency is for price reversion to 21-day MA

  • Both the 10 & 21-day MAs come in at 1.1043 today - where it is trading

  • The top of the trend-line lower is at 1.1082 and break would end the trend

  • Sellers are tipped between 1.1080/1.1100 than should contain upside

  • Option strikes at 1.1050 will likely limit range in Asia at least

Source:
Refinitiv IFR Research/Market Commentary

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